Is King Coal Set to Regain Its Crown?
03/28/2014 7:00 am EST
Although the US energy renaissance, coupled with more stringent environmental regulations, has dethroned it in recent years, things might be heating up for King Coal soon, notes Chris Kimble of Kimble Charting Solutions.
Coal has not been too hot of late, nor hot over the past few years. Coal ETF (KOL) has lost nearly two-thirds of its value and momentum is oversold and could be creating a higher low, while KOL "may" have created a double bottom...nothing proven yet!
If one believes in the ole concept of "buy low and sell higher" in my humble opinion, this hard hit asset is worth watching closely right now!
By Chris Kimble, Founder, Kimble Charting Solutions